Invalidity dossier
US 7464057
Method and system for multi-currency escrow service for web-based transactions
Current assignee: Citibank NA
Added 9/23/2026, 2:01:30 PM
Active provider: DeepSeek · deepseek-flash
Patent summary
Title, assignee, inventors, filing/issue dates, abstract, and a plain-language overview of the claims.
Patent Overview — US 7,464,057 B2
Title: Method and system for multi-currency escrow service for web-based transactions
Patent number / application: US7464057B2; application US10/109,782; earlier publication US20020161707A1.
Assignee: Current assignee listed as Citibank NA; original assignee Citibank NA. The record also shows assignments to Crossmar, Inc. (2002) and Citicorp Banking Corporation, then Citibank, N.A. (2006).
Key dates (as listed): Priority date 2001-03-30; filing date 2002-03-29; publication date 2008-12-09; adjusted expiration 2026-02-15; legal status "Expired – Lifetime." A later application (US12/289,381, published as US7925586B2) claims priority to this filing.
Inventors: Alan Cole, Deborah Bennett, Hachadur Hashasian.
Classification: G06Q, including commerce/buying-selling transactions, payment architectures involving a neutral third party or clearing house, electronic funds transfer/home banking, currency conversion (G06Q20/381), and finance/credit.
Purpose and plain-language scope: The patent addresses escrow service for web-based transactions, including multi-currency transactions. According to the supplied definitions and summary, the invention "relates generally to the field of electronic commerce ('e-commerce')," and an embodiment "provides a method and system for escrow service for web-based transactions, such as multi-currency web-based transactions, that is web-accessible and accepts registrations from exchanges and/or portal partners." In plain terms, it describes a web-accessible escrow arrangement in which a neutral party holds and handles payment between buyer and seller, with support for more than one currency, and with exchanges and portal partners able to register. The listed prior-art keywords are buyer, seller, payment, user, and transaction; KYC ("Know-Your-Customer") appears among the defined terms.
Source: https://patents.google.com/patent/US7464057/en
What the excerpt does not establish: It does not provide the claims, detailed description, drawings, or full definitions; the specification text is expressly excerpted and omitted portions should be consulted. It does not establish the number or scope of claims, the specific escrow workflow, or how multi-currency conversion is implemented.
Generated 10/1/2026, 9:52:35 PM
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Litigation summary
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Proceedings on file (0)
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PTAB challenges
AIA trial proceedings at the USPTO Patent Trial and Appeal Board — IPR, PGR, and CBM. Petitioners, judge panels, claim-level invalidation outcomes from Final Written Decisions, and Federal Circuit appeals. The single most important defensive datapoint after litigation history.
Assignment history
Inventors, original assignee, and the chain of ownership recorded with the USPTO — including the correspondent attorney who recorded each assignment, since shell-LLC chains often share one repeat-player attorney even when the entity names look unrelated. Surfaces NPE / patent-troll patterns: shell-entity transfers, known asserters in the chain, repeat correspondent fingerprints, pre-litigation assignments, and bankruptcy fire-sales.
Prior art
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Obviousness
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Extensions
Patent term adjustments, term extensions, continuations, divisionals, family members, and expiration dates.
Derivative works
Defensive disclosure: derivative variations of each claim designed to render future incremental improvements obvious or non-novel.